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Willy Woo: The transfer of 80,000 Bitcoins caused the CVDD bottom valuation to rise from $35,000 to $37,000.
According to Foresight News, Willy Woo tweeted that "perhaps counterintuitively, when old coins move, the market seems to place greater value on BTC in the long term. Today, 80,000 old Bitcoins were transferred to new wallet addresses, causing the estimated value of the realized value days floor model (CVDD floor model, a Bitcoin bottom valuation model) to rise from $35,000 to $37,000." Additionally, Willy Woo further elaborated on the CVDD model, "When Bitcoin is transferred from an old investor who bought at $1 to a new investor who bought at $100,000, the new investor assesses the value of these Bitcoins at a higher floor price, which helps elevate the bottom price recognized globally for the entire Bitcoin supply. Active custodial rotation (i.e., frequent transfers of Bitcoin between different investors or custodians) may also indicate that investors place a high value on these Bitcoins."